The Millennial Approach to Work
March 13, 2024Last week we talked about the generational approach to technology focusing on the differences between Baby Boomers and Millennials. In part two of our three-part series, we’re going to dive in to the Millennial approach to work in general. As noted in our previous article, Millennials have recently overtaken baby boomers as the largest population cohort in Canada. This means that over the next several years, we can expect see significant changes to the way we work due to changing priorities within the workforce.
Below, we’ll take a look as some of the key priorities of the Millennial workforce and talk about how you can evolve to best engage and support them. Few Millennials show interest in traditional Monday to Friday, 9-5, suit and tie jobs, instead seeking purpose and flexibility in their careers. Companies that are willing to adapt will find that they are able to attract and keep top talent while growing their businesses. On the flip side, organizations determined to stick with “business as usual” will likely experience high employee turnover and face stagnant growth prospects. Change is never easy, but we’re here to help. Read on to learn more.
Value of Flexibility and Autonomy
After speaking to nearly 23,000 individuals in 44 countries, Deloitte Global had some interesting insights following their annual Gen Z and Millennial survey in 2023. Respondents identified a healthy work/life balance as one of the top priorities and said it was the trait they most admired in their peers. Not surprisingly, this goes hand in hand with remote and hybrid work arrangements. Three quarters of employees with a hybrid or remote work arrangement indicated that they were likely to look for new employment if expected to return to the office full time. Employees seem to prefer flexible hybrid arrangements, deciding when it makes the most sense for them to be present in the office.
Based on the above, the key is flexibility. Offering the ability to work remotely, even in a limited capacity, is likely to appeal to Millennials. With the right technology infrastructure in place this is easy to accommodate. Things like Document Management systems, video conferencing, and collaboration platforms like Slack, allow your team to have the same experience and access to information in or out of the office. Allowing for variable start and end times will also have an impact. These types of arrangements demonstrate trust and overall, increase loyalty and productivity.
Continuous Learning and Development
When looking at the Millennial approach to work, opportunities for professional growth are identified as top priority. They are constantly looking for ways to advance their career and will seek out training and coaches that will support them. They have a strong desire for frequent feedback but are less focused on traditional quarterly or annual reviews. They’ve grown up in a technology rich, on demand world and communicate primarily by text and instant message, so they expect to have regular, less formal conversations to discuss progress and how they can succeed. They are also looking for managers that focus on coaching and appreciate accessibility.
Ensuring that your team has access to resources and training opportunities will be critical in the coming years. Offering access to online learning resources or hosting a combination of formal and informal workshops and sessions on a regular basis can help your employees develop new skills that enhance your team. You’ll also want to make sure that you’re checking in regularly with your team and providing in the moment feedback, both positive and negative. An open-door policy that allows workers access to management will also show your team that they are valued and that their opinions matter.
Collaboration and Community
Unlike previous generations, which tend prioritize individual achievement and competition, the Millennial approach to work sees the workplace as a community where success is a shared endeavour. Because of this, they will seek out leaders that are open and transparent that act as mentors as opposed to more traditional, authoritative managers. Even when they are remote, Millennials seek out community and collaboration. Having the right systems in place to provide a consistent team and work experience, regardless of location, is of the utmost importance.
While it may seem like a desire for solitude, the rise of remote and hybrid work has actually amplified the desire for community and collaborative work among Millennials. Fortunately, Millennials have a high level of comfort with technology and will adapt quickly to innovative tools that keep them connected. Information sharing, regular video check ins and team building activities are a must. As discussed above, the rise of hybrid and remote work will require investment in technology that ensures your team stays connected and productive no matter where they are.
Sustainability Practices
More so than their predecessors, Millennials are very aware of the need for sustainable business practices. When evaluating potential employers, companies that prioritizes green initiatives and are committed to climate action come out on top. In the Deloitte survey, six in ten Millennials expressed concern about the environment, specifically identifying extreme weather events and wildfires as stress drivers. Nearly three quarters of Millennials indicated that they are working to minimize their impact on the environment. The good news is that more than half of the respondents felt confident in their employer’s commitment to addressing climate change, though they believed there was still work to be done.
Knowing that employees are looking for greener pastures, so to speak, what can you do? Offering remote and hybrid work option reduces the pollution generated through commuting. When employees are needed on site, promoting and subsidizing car pooling is a great option. Go paperless by implementing digital solutions to manage traditionally paper-based tasks, eliminating waste. Offer educational resources to your team providing actionable tips on being more eco-friendly. Take steps to “green” your community through involvement in local initiatives. Employees have noted that this is one area where they do not have much input, so be sure to engage with your team on this topic regularly. The integration of meaningful, sustainable practices into your business is good for the environment and will help you attract and retain top talent in the years to come.
Seeking Purpose and Impact
Millennials have demonstrated a strong desire to engage with work that they feel positively impacts the world around them. They believe that work needs to more than just a paycheck, it also needs to be an avenue for personal growth and social change. Millennials want to see their work lead to meaningful outcomes, through innovative products or services or company policies that prioritize social responsibility. Companies that reflect the values of their employees can expect greater loyalty and improved moral. The push for purpose and impact is not just a personal preference but a call to action for businesses to integrate social responsibility into their operational DNA, ensuring that their work contributes to the greater good.
It’s easy to talk the talk, but more important to walk the walk. Communication is key and soliciting feedback from your employees is the best way to start. Find out what’s important to them and use that information to inform your business. Once you know what’s important to your employees, you can look at how your business can better align with those values. Sustainable business practices are often a high priority and can be addressed through waste reduction programs and a shift towards a paperless office. For immediate, measurable impacts, charity matching programs and volunteer time off policies encourage involvement in your community and allow team members to directly support causes that are important to them. Ensuring that your mission statement reflects these values should be a priority.
Conclusion
In conclusion, the Millennial approach to work will lead to a profound transformation within the workplace. This generation’s emphasis on flexibility, autonomy, continuous learning, collaboration, sustainability, and meaningful impact challenges businesses to evolve in ways that not only accommodate but also embrace these priorities. By adopting practices that align with Millennial values, companies can create environments where all employees feel valued, engaged, and motivated to contribute their best work. It’s a shift that requires a genuine commitment to change and an understanding that the future of work is not just about adapting to new technologies or market trends, but also about fostering a workplace culture that prioritizes the well-being of its workforce, the community, and the planet.
Working towards integrating these millennial values into the core of your business provides organizations with an opportunity to lead with purpose and vision. As companies strive to meet these expectations, they will not only attract and retain top Millennial talent but also position themselves as leaders in a rapidly changing global economy. The focus on flexibility, purpose, and sustainability resonates with a growing demand for businesses to be more accountable and transparent in their practices. Ultimately, the Millennial approach to work invites companies to rethink their role in society, encouraging them to contribute positively to the world while fostering a culture of innovation, collaboration, and respect for diversity. This is not just a call to action for businesses to align with Millennial values but an invitation to participate in shaping a more sustainable, equitable, and fulfilling future for all.